Financial Services

Shriram Group: Group Structure

About Shriram Group

Shriram Group is conglomerate found in 1974 by Ramamurthy Thyagarajan, AVS Raja & T. Jayaraman. 

R Thyagarajan started a chit fund business with two friends in Chennai i.e. the other two founders. Later on entered the lending business through Shriram Transport Finance (Commercial Vehicle Finance) & Shriram City Union Finance.

His family is not involved in the Group’s businesses.

The group is into the businesses of:

  • Commerical Vehicle Finance
  • Consumer & Enterprise Finance
  • Retail Stock Broking
  • Life Insurance
  • General Insurance
  • Financial Product Distribution
  • Wealth Advisors
  • Chit Funds
  • Overseas Investments

Shriram Capital Limited is the flagship company of the group. Shriram Capital Limited is the overarching holding company for the Financial Services & Insurance entities of the Group, created with the primary objective of optimizing the synergies across the Group’s entities.

Executive Management

Mr. Ajay Piramal

He is chairman of Shriram Capital since 2014. Piramal Enterprises began investing in Shriram Group in May 2013 when it acquired about 9.96% stake in Shriram Transport Finance Co. Ltd. in an open market purchase of ₹1,636 crore. According to exchange filings, Piramal sold the stake to its unit PHL Capital in March 2014 in an off-market transaction. In April 2014, Piramal bought a 20% stake in Shriram Capital Ltd, the holding entity for all Shriram Group companies, for ₹2,014 crore.

Eventually, Mr. Ajay Piramal stepped down from the position, selling his stake in Shriram Transport Finance in mid 2019.

Mr. Arun Duggal is likely to take over as chairman of the Shriram Group entities. He was the group chairman earlier for many years till November 2014.

Mr. DV Ravi - Managing Director

He joined the Commercial Vehicle Finance business of Shriram Group in 1992 as Head of Investment Servicing. Over time, his portfolio grew to include key areas of Corporate Strategy & services, Corporate Finance, Information Technology & Process activities of the Group.
He is also on the Board of various other Shriram Group of companies.

Group Structure

shriram group structure with shareholding of promoter group and inter group shreholding

Shriram Transport Finance Company Ltd is a significant part of the group. It is one of the leading vehicle financing players. The company secures around 12-13% of the vehicle financing industry in India.

Read about the vehicle financing industry & its peer group Chola Finance (Click).

On the other hand, Shriram City Union Finance (SCUF) is a deposit taking NBFC focusing on retail lending. It offers loans to small and medium business enterprises, two-wheeler loans, loans against gold & home loans via its subsidiary Shriram Housing Finance in rural & semi-urban areas of India.

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Disclaimer: The report only represents personal opinions and views of the author. No part of the report should be considered as recommendation for buying/selling any stock. The report & references mentioned are only for the information of the readers about the industry/company stated.

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